SEOUL, Sept. 26 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automotive companies, said Thursday they have launched a joint project to develop cathode material technology for producing LFP (lithium iron phosphate) batteries for electric vehicles. The joint project, also involving Hyundai Steel Co. and Ecopro BM Co., aims to develop [...]
SEOUL, Sept. 18 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a temporary dip in demand, South Korean automakers and financial institutions are introducing innovative products to spark consumer interest. These offerings, centered around guaranteeing the residual value of EV batteries, are reshaping the future of EV ownership. At the heart of [...]
SEOUL, Sept. 10 (Korea Bizwire) – In a move to address growing safety concerns and maintain customer loyalty, Mercedes-Benz Korea announced on September 9 that it plans to distribute charging vouchers worth 300,000 won to owners of its electric vehicles. Mathias Vaitl, president of Mercedes-Benz Korea, communicated this decision in an email titled “A Message of [...]
SEOUL, Sept. 9 (Korea Bizwire) — The transport ministry said Monday it plans to issue a legislative notice for new government regulations regarding electric vehicle (EV) safety announced last week in response to public concerns over EV fires. The ministry said the legislative notice for amendments to the enforcement regulations of the Automobile Management Act [...]
SEOUL, Sept. 4 (Korea Bizwire) – Mercedes-Benz is facing scrutiny in South Korea as vehicle owners have filed complaints with the Korea Consumer Agency, alleging that the company provided incorrect information about the battery manufacturer in some of its electric vehicles. According to industry sources, the Korea Consumer Agency is currently reviewing the facts surrounding the [...]
SEOUL, Sept. 2 (Korea Bizwire) — Nearly 60% of electric vehicle (EV) charging stations in South Korea are installed underground, according to a recent government report, raising concerns about fire safety and emergency response capabilities in a country rapidly embracing electric mobility. The data, released by the Ministry of Environment to lawmaker Lim Lee-ja of the [...]
SEOUL, Aug. 30 (Korea Bizwire) – In response to slowing electric vehicle (EV) adoption, Hyundai Motor has unveiled a new strategy centered on hybrid vehicles (HEVs) and extended-range electric vehicles (EREVs) to navigate the current market challenges. The South Korean automaker presented its updated mid-to-long-term strategy, dubbed Hyundai Way, during its 2024 CEO Investor Day on [...]
SEOUL, Aug. 30 (Korea Bizwire) – Jeep, the American brand renowned for its rugged off-road vehicles, is preparing to launch its first all-electric SUV, the Avenger, in South Korea next month. This move marks a significant step in the brand’s electrification journey and its expansion in the Asian market. The compact electric SUV, which has garnered [...]
SEOUL, Aug. 28 (Korea Bizwire) — Samsung SDI Co., a South Korean battery maker, said Wednesday it has signed a formal deal with global automaker General Motors Co. to jointly build electric vehicle (EV) batteries in the U.S. state of Indiana. Under the deal, the two companies will invest a combined US$3.5 billion to build [...]
SEOUL, Aug. 26 (Korea Bizwire) – In the wake of a devastating electric vehicle (EV) fire in Incheon, South Korean automakers and consumers are turning their attention to early warning systems designed to detect battery abnormalities. These systems are being hailed as a practical fire prevention measure, capable of alerting drivers to potential issues before they [...]